Frequently Asked Questions & Answers About Student Loan Forgiveness


  • Q. What is Student Loan Forgiveness?

    Once the term of your program is successfully completed, the government will waive the remaining balance of your Federal student loans. This will include your remaining principle and accrued interest. In some cases, your forgiveness is not taxable.

  • Q. What is the 3-Step Enrollment Process?

    1. Complete your electronic enrollment packet & upload your income and identification documents all within the secure portal.
    2. My Education Solutions will process and submit your program application. Once your program is approved by the Department of Education, My Education Solutions will draft your new low monthly payment & one-time enrollment fee.
    3. Sit back & relax until it’s time for your annual re-certification.

  • Q. What Are The Six Steps To Student Loan Forgiveness?

    1. Find out whether you qualify: Take our free, online calculator.
    2. Enroll: Submit your documents.
    3. My Education Solutions files your paperwork.
    4. You’ll be notified of your approval. We’ll set your first program payment date and continue to monitor your program.
    5. Complete re-certification annually: submit your documents & inform us of any changes.
    6. Receive your forgiveness discharge once your program term is successfully completed.

    Learn more here.

  • Q. Is There A Cost To Enroll?

    There is no cost to receive your instant, on-screen results to see whether you qualify, or to get answers to your questions. Enrollment into the program is a one-time fee of $299 and our $49 monthly service fee is included in your estimated payment.

    Our Money Back Guarantee: If you are not approved for Student Loan Forgiveness, you will not be charged the $299 enrollment fee since you cannot enroll.

  • Q. Will Student Loan Forgiveness Hurt My Credit?

    In most cases, Student Loan Forgiveness will improve your credit score. If you are currently not making payments, you will begin making payments which will improve your credit score. The overall balance owed will not change, but your monthly payment obligation will be reduced, improving your DTI (Debt-to-Income) Ratio, which may increase your ability to qualify for a mortgage, vehicle, or credit cards.

  • Q. What Are The Benefits Of Enrolling With My Education Solutions Versus Continuing With My Current Service Provider?

    My Education Solutions Offers:
    – Personalized service from Student Loan Forgiveness Experts.
    – Speak with people who care & understand the burden of student loan debt.
    – Receive direct answers to your questions so you can make more informed decisions.
    – Guaranteed approval or you will not be charged the $299 enrollment fee.
    – We won’t enroll you in a program without full-disclosure of your payments.
    – Our Team manages your program from start to finish, eliminating your need to deal with your service provider.
    – We have a proprietary calculator to instantly disclose (upfront) your forgiveness amount and your new low monthly payment.
    – We provide documentation to mortgage lenders to assist our clients who are looking to purchase a home.

  • Q. How Is My Education Solutions Different From Everyone else?

    My Education Solutions is not a loan servicer or refinance company–we are a consumer advocacy organization, focused on administering government forgiveness programs. We are here to help you lower your monthly payments and receive the forgiveness you are legally entitled to.

  • Q. Can I Do This Myself?

    Yes, you can, but in our experience, our clients aren’t provided with the tools to succeed in obtaining student loan forgiveness by their loan servicers. My Education Solutions’ forgiveness experts fill in the gap so people who are legally entitled to this benefit are successful in obtaining it. Most importantly, we stay up-to-date on changes to government regulations, ensuring our clients are compliant.

  • Q. Will My Education Solutions Own My Federal Loans When I Enroll In The Student Loan Forgiveness Program?

    The Department of Education will always own your federal loans. We do not purchase the loan or refinance the loan, nor are we the agency that will grant your forgiveness. The Department of Education will be the agency that forgives the remaining balance of your student loan debt once the term of your forgiveness program is completed. In addition, since we are not a student loan creditor, we do not report to the credit bureaus.

  • Q. How Do You Determine How Much Forgiveness I’m Entitled To?

    Our Student Loan proprietary calculator will find the lowest payment for you and disclose your forgiveness amount upfront, prior to your providing any contact or financial information.

  • Q. Why Would My Forgiveness Amount Be Higher Than What I Currently Owe?

    Forgiveness program estimates are based on the total loan balance plus the interest accrued until the loan is forgiven. Compounding interest on your loan continues while you are enrolled in the program. It is possible that at the end of your program term, both the principle and interest will be forgiven. Please contact an advisor should you have any questions. 800-618-1170 (Option 1).

  • Q. How Long Does The Process Take?

    After you submit your enrollment documents, My Education Solutions will verify your information. Your first student loan payment will occur once your approval is confirmed by the Department of Education. We will reach out to you to set your first payment draft for your program and your one-time enrollment fee upon approval.

  • Q. When Can I Stop Paying My Current Student Loan Servicer Directly?

    You may stop making payments directly to your current student loan servicer once your first monthly student loan payment has been received by My Education Solutions.

  • Q. Do you offer Teacher Title 1 Forgiveness programs?

    Yes, we can assist you with Teacher Title 1 Forgiveness. However, based on our experience, the Public Service Loan Service Forgiveness program is often more beneficial as it results in more forgiveness compared to the limited amount (usually only $5,000) granted by the Teacher Title 1 Forgiveness Program.

  • Q. If I Am Currently In Default, Can I Still Enroll In Forgiveness?

    Yes, if your loans are in default or collections, you may still enroll into the Student Loan Forgiveness Program. If your employer or The Department of Education have contacted you about wage garnishment we may be able to still help you. Please contact us immediately.

  • Q. Is Student Loan Forgiveness Considered Taxable Income?

    Whether your forgiveness amount is considered taxable income is dependent upon the type of forgiveness program in which you are enrolled. Any forgiven debt while on a 10-year program is not considered taxable income. You can qualify for a 10-year forgiveness program if you are employed by a non-profit, or government organization. If, however, you are employed by a for-profit company, or you choose not to work, the forgiveness you receive is considered taxable income in the year that the write-off takes place after 20 years.

  • Q. How Secure Is My Personal Data & Documents When I Upload Them?

    We have the safest portal in the world. You are entering your data and documents into a secured portal with DocuSign which meets and exceeds the most stringent U.S. and global security standards.

    DocuSign is the only DTM provider to be ISO 27001-certified and SSAE 16-certified (SOC 1 and SOC 2) and internationally tested across the entire company and its data centers. Only DocuSign provides full document encryption to ensure the privacy of your data. Learn more at DocuSign’s website.

    My Education Solutions never shares your information. Please click here to view to our privacy policy.

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